business
Cypriot natural gas could start flowing from ExxonMobil's discoveries by 2033
By Menelaos Hadjicostis, Associated Press at KPRC 2 Houston (NBC / Click2Houston)
· June 30, 2026
· 2 min read
Natural gas could start flowing by 2033 out of two undersea deposits discovered by ExxonMobil off Cyprus, a senior executive with the company said Tuesday, helping to turn the east Mediterranean island nation into a new European energy hub.The largest U.S. oil company and its consortium partner, ...
Key takeaway The deposits — dubbed Glaucus and Pegasus — are located in Block 10 of Cyprus’ exclusive economic zone (EEZ) and are estimated to hold together roughly 7 trillion cubic feet of gas.
Why this matters in Sugar Land News
The potential for Cypriot natural gas to flow by 2033 has implications for Sugar Land 's energy landscape, given the city's proximity to Houston, a major hub for the oil and gas industry. ExxonMobil's discoveries off Cyprus could lead to new business opportunities and investments in the region, potentially creating jobs and stimulating economic growth in Fort Bend County. As a major player in the global energy market, ExxonMobil's activities in Cyprus may also influence the company's operations in the Houston area, where it has a significant presence. Furthermore, the development of new energy sources in the eastern Mediterranean could impact the global energy market, potentially affecting prices and supply chains that impact local businesses and residents in Sugar Land. As the project moves forward, it will be worth watching how ExxonMobil's plans for Cypriot natural gas align with the company's overall strategy and investments in the Houston area.
About this story
Original reporting by KPRC 2 Houston (NBC / Click2Houston) . Sugar Land News surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KPRC 2 Houston (NBC / Click2Houston) . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: June 30, 2026 ·
Source: KPRC 2 Houston (NBC / Click2Houston) ·
Reading time: 2 min
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Frequently asked about this story
What is this story about? Natural gas could start flowing by 2033 out of two undersea deposits discovered by ExxonMobil off Cyprus, a senior executive with the company said Tuesday, helping to turn the east Mediterranean island nation into a new European energy hub.The largest U.S. oil company and its consortium partner, ...
When was this published? This article was first published on June 30, 2026 by KPRC 2 Houston (NBC / Click2Houston) and curated for Sugar Land News readers.
Who reported this story? This story was reported by Menelaos Hadjicostis, Associated Press at KPRC 2 Houston (NBC / Click2Houston). To learn more about how Sugar Land News selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from Sugar Land News, or browse our daily briefing and topic hubs .
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